With its growing popularity, many countries and regions are looking to tap into the lucrative online gambling industry. In Canada, Alberta is on track to become the second Canadian province to legalize online gambling.
PlayCanada reported that several Alberta politicians are keen on bringing online gambling, or iGaming to the province. Currently, only the province of Ontario has legalized gambling in Canada through its government-run operation, and Alberta officials are looking to set up a similar format.
Alberta, known for its oil and gas industry, has been hit hard by recent economic downturns. The government is actively seeking new revenue streams to offset the losses. Legalizing online gambling presents a unique opportunity to generate additional revenue and support the province’s economic recovery efforts.
By entering the online gambling market, Alberta aims to attract players who would otherwise go to Ontario’s platform, capturing a share of the revenue that is currently flowing out of the province.
Legalizing online gambling will not only generate revenue for the government but also create job opportunities in the province. The online gambling industry requires various roles, such as customer support, software development, and marketing, which will contribute to the growth of Alberta’s economy.
Also, the introduction of online gambling in Alberta can attract tourists who are interested in experiencing the thrill of online betting. This can lead to increased tourism revenue, job creation in the hospitality industry, and overall economic growth for the province.
Opponents of legalized online gambling point out that it could cause an increase in addiction and problem gambling and competition with land-based casinos.
Alberta will need to establish a comprehensive regulatory framework to oversee the online gambling industry effectively. This includes licensing requirements, responsible gambling protocols, and anti-money laundering measures. Ensuring compliance and enforcing these regulations will be a crucial aspect of the legalization process.
